News for February 28, 2024

AtmosZero closes $21M Series A

AtmosZero has secured $21 million in Series A funding, co-led by Engine Ventures and 2150, to accelerate its Boiler 2.0 technology to decarbonize industrial steam production without emitting carbon. The round saw participation from key investors such as Constellation Technology Ventures and Energy Impact Partners. AtmosZero’s innovative approach targets diverse sectors such as food and chemical manufacturing, offering a scalable, drop-in replacement for fossil-fueled boilers crucial for achieving global emission reduction goals. CEO Addison Stark emphasizes the company’s vision to eliminate emissions from fossil-fueled boilers, receiving strong validation and support for their mission from leading US and European investors.

Beanless coffee startup expansion

Singaporean food tech startup Prefer has secured $2 million in seed funding to expand its production facility and reach in Asia. The company specializes in creating beanless coffee from surplus bread, soy pulp and spent grain, aiming to offer a sustainable and affordable alternative to traditional coffee while combating the environmental challenges facing coffee cultivation. With a focus on fermentation technology, Prefer addresses the climate impact of coffee production and plans to extend its range to include other flavors, envisioning a more sustainable future for various food products beyond coffee.

Culture POP secures new funding

Culture POP, the Massachusetts-based soft drink brand co-founded by Nantucket Nectars’ Tom First, has secured $21 million in new investment capital, mainly from new investors such as Enlightened Hospitality Investments and a private investment by Howard Schultz. The company capitalizes on growing consumer interest in gut-friendly sodas, reflecting a broader trend in the beverage market.

Spacegoods expands mushroom products

London-based e-commerce startup Spacegoods has secured £2.5 million in seed funding to expand its mushroom and nootropic product line, aiming to tap into the growing market for functional mushrooms and adaptogens. Spearheaded by serial entrepreneur Matthew Kelly, the company plans to use the investment to scale its operations, develop new products and expand its market presence across Europe. With a focus on wellness and energy, Spacegoods aims to carve a niche in the European market amidst the rising demand for clean energy and holistic wellness solutions.

Cultivated pork fat funding

Brazilian startup Cellva Ingredients has secured R$6.5 million in funding to advance its development of cultivated animal ingredients, beginning with pork fat. Led by Seed4SCience from Fundepar, the funding round also saw participation from ProVeg Incubator and other investors. Cellva aims to revolutionize the food industry with its sustainable, healthier fats produced in just 21 days, while traditional methods take up to 24 months, with plans for product launches by late 2024 or early 2025, pending regulatory approvals from Anvisa.

Cargill invests in ENOUGH

Cargill has made an undisclosed investment in ENOUGH, a Glasgow-based alt protein startup, to bolster its mycoprotein production and signed agreements to market ENOUGH’s ‘ABUNDA’ mycoprotein. Co-located with a Cargill starch facility in the Netherlands, ENOUGH’s facility utilizes fungal biomass to produce mycoprotein, fostering a zero-waste process. The partnership aims to develop poultry-style products and leverage mycoprotein’s scalability and sustainability in the alt protein market.

Skincare investment by Verlinvest

Cible Skin, renowned for its research-backed skincare formulations and luxurious treatments, has secured a minority investment from Verlinvest. This investment aims to propel Cible Skin’s growth in key markets like Europe, China and the United States, facilitating the development of new products based on its patented immuno-cosmetic approach. Verlinvest’s support underscores Cible Skin’s commitment to scientific innovation and customer satisfaction, positioning the brand for global leadership in luxury, science-driven cosmetics.

Sunday Natural secures investment

Sunday Natural, a premium nutrition brand headquartered in Berlin, has received investment from CVC Fund VIII to bolster its international expansion. With a focus on quality and transparency, Sunday Natural’s True Clean Label philosophy has garnered a loyal customer base, generating approximately €100 million in revenue in 2022. Founder Jörg Schweikart will remain integral to the company’s strategic direction, emphasizing collaboration with CVC to leverage expertise and networks for global health and self-care market growth.

Fermentation for alternative seafood

Berlin-based Pacifico Biolabs has surfaced from stealth mode, introducing a novel fermentation method for crafting alternative seafood. Zac Austin, the CEO and co-founder, emphasizes the process’s revolutionary potential, highlighting its ability to produce whole muscle structures via fermentation, a technique distinct from traditional methods. Backed by a $3.3 million pre-seed funding round, the startup aims to scale its innovative approach, aiming for regulatory approval and eventual market launch in Europe, with aspirations for broader applications beyond seafood in the long term.

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